After a period of some industry conjecture and agency uncertainty, MFS has announced that it is not proceeding with plans to sell off any of Stella Travel Services and that it intends to retain 100% ownership.
MFS also said that intends to capitalise on the continuing strength of domestic and international tourism and travel and that the decision was taken after reviewing Stella’s year-to-date results.
CEO Michael King said, “The Stella Group continues to perform very well and is now a key ongoing contributor to the earnings of the MFS business, with favourable travel market conditions, the potential for further growth and ongoing strong financial results convincing MFS that Stella Group should be withdrawn from sale.”
A Report by The Mole
